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Thursday, January 17, 2013

USA Weekly Unemployment Claims Drop to Post-Recession Low!

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U.S. Department of Labor: Unemployment Insurance Weekly Claims Report

Current seasonally adjusted weekly unemployment claims (335,000) are at a post-recession low and well below the 2012 weekly average of 375,000. However, the non-seasonally adjusted weekly unemployment claims are a staggering 555,708, which is a one-year high (week ending January 7, 2012 was 646,219). Claims are usually lower in December due to temporary Holiday hiring. A subsequent spike in claims occurs in January.

(U.S. Department of Labor) In the week ending January 12, the advance figure for seasonally adjusted initial claims was 335,000, a decrease of 37,000 from the previous week's revised figure of 372,000. The 4-week moving average was 359,250, a decrease of 6,750 from the previous week's revised average of 366,000.

The advance seasonally adjusted insured unemployment rate was 2.5 percent for the week ending January 5, an increase of 0.1 percentage point from the prior week's unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending January 5 was 3,214,000, an increase of 87,000 from the preceding week's revised level of 3,127,000. The 4-week moving average was 3,195,750, a decrease of 6,000 from the preceding week's revised average of 3,201,750.

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